Edgewood, Texas Property Taxes
The median property tax rate in Edgewood, TX is 1.05%, slightly higher than the national median of 0.99% but lower than the Texas state median of 1.67%. With a median home value of $198,430, the typical annual property tax bill in Edgewood reaches $1,600, which is below the national median of $2,690. Property taxes in Edgewood are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Edgewood's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Edgewood or another part of Van Zandt County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Edgewood, Texas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$2,084
$1,928
$1,148
Average Edgewood, Texas Tax Savings
Ownwell’s Edgewood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Edgewood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Edgewood to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Edgewood. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Edgewood, Texas
Property taxes in Edgewood, Texas, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Edgewood is 1.05%, higher than both the Texas state median of 1.81% and the U.S. national median of 0.99%. Local government entities within Edgewood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Edgewood estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Edgewood's effective property tax rate to other counties in Texas and the national median. For comparison, the 75117 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these cities compare with Edgewood provides valuable insights into the varying tax landscape across Van Zandt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Edgewood Tax Rate
1.05%
Average Van Zandt County Tax Rate
0.90%
Average Texas Tax Rate
1.67%
Average United States Tax Rate
0.99%
Property Tax Rates Across Edgewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75117 | 0.15% | 0.37% | 1.05% | 1.65% | 2.11% |
Source: Ownwell
$1,148
Average Edgewood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Edgewood, Texas
In Edgewood, Texas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Van Zandt County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Edgewood, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in Edgewood is $198,430, with tax bills ranging widely; the 25th percentile tax bill is $551, while the 75th percentile tax bill reaches $3,324, and the 90th percentile tax bill climbs to $5,350. The zip code with the highest and lowest median tax bill is 75117, both at $1,600. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Edgewood Assessed Value
$198,430
Average Van Zandt County Assessed Value
$183,735
Average Texas Assessed Value
$247,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Edgewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75117 | $53,586 | $108,260 | $198,430 | $328,990 | $497,120 |
Source: Ownwell
$1,148
Average Edgewood Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Edgewood, Texas
Property tax bills in Edgewood, Van Zandt County, TX, are calculated based on the assessed value of a property, which is typically a percentage of its market value. In this region, the median home price is $198,430. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property location, improvements, and market conditions influence this valuation. For homeowners, this means that tax bills can range significantly. For instance, the 25th percentile tax bill is $551, while the 75th percentile reaches $3,324, and the 90th percentile can be as high as $5,350. This variability can significantly impact household budgets. Ownwell assists homeowners by providing property tax appeal and exemption services, potentially lowering these burdensome tax bills. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying. This service can lead to substantial savings, making property ownership in Edgewood more affordable and financially manageable.
Average Edgewood Tax Bill
$1,600
Average Van Zandt County Tax Bill
$1,296
Average Texas Tax Bill
$3,971
Average United States Tax Bill
$2,690
Property Tax Bills Across Edgewood, Texas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 75117 | $233 | $551 | $1,600 | $3,324 | $5,350 |
Source: Ownwell
$1,148
Average Edgewood Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to protest!
Dates | |
|---|---|
| Appeal Deadline | May 17 |
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | November 30 |
| Due Date #2 | June 30 |
Links | |
|---|---|
| Van Zandt Appraisal District | |
| Website | esearch.vzcad.org |
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